The number-one US automaker reported net income of $2.1 billion, or $1.40 per share, versus a loss of $5.2 billion or $3.65 per share a year earlier. Excluding one-time items, GM earned $1.43 a share. Analysts polled by Refinitiv IBES had expected earnings of $1.22.

"We navigated significant headwinds in 2018 to deliver another year of strong results, demonstrating the earnings resiliency of this company," CFO Dhivya Suryadevara said in a statement. "The actions we've been taking to shape a stronger, more profitable portfolio of businesses position GM for long-term success."

In a conference call with the media after earnings were announced, Suryadevara said that a "flawless" launch of new full-size pickups from Chevy and GMC helped the strong US results.